Long-awaited: ECNEC agrees to revive Karachi Circular Railway project

Pakistan News 0 Comment 10

ISLAMABAD: The Executive Committee of National Economic Council (Ecnec) approved nine development schemes worth Rs310 billion including the revival of Karachi Circular Railway (KCR) project.

In a meeting held on Friday, the committee agreed to revive the KCR at a rationalised cost of Rs207.54 billion under the China-Pakistan Economic Corridor (CPEC) framework.

The project includes construction of 24 stations, procurement of 162 locomotives and will serve 515,000 passengers per day.

The meeting was chaired by Prime Minister Shahid Khaqan Abbasi. According to an official, after becoming part of CPEC in the sixth Joint Coordination Committee meeting, Chinese and Pakistani authorities decided to complete the project on a fast track with Beijing’s financial assistance.

Earlier, Japanese development agency, Jica, was to finance the project, which was scheduled to be completed in 10 years. However, under special directives of former prime minister Nawaz Sharif, it was decided that the project would be included in CPEC and would be completed within three years by September 2020.

Ecnec also approved a financial inclusion and infrastructure project at a rationalised cost of Rs14.318 billion.

The Balochistan Education Project (revised) was approved at a cost of Rs3.57 billion. It is aimed at increasing student enrolment with special emphasis on girls’ education in 31 districts of the province.

Ecnec approved third revision for the double railway track from Khanewal to Raiwind (246 km) at a rationalised cost of Rs14.261 billion.

Khyber-Pakhtunkhwa’s project for road rehabilitation was also given the go-ahead at a cost of Rs17.103 billion.

The committee gave green light to the construction of a four-lane bridge across the Indus River linking Layyah with Taunsa including two-lane approach roads and river training works (24.272 km) in south Punjab. The cost of the project was estimated at Rs9.775 billion.

Ecnec directed the National Highway Authority (NHA) to draw up a master plan for future bridges to be constructed across the country.

Construction of Rathoa Haryam Bridge and approaches across the reservoir channel on the Mirpur-Islamgarh Road (second revision) was approved at a total cost of Rs6.48 billion.

Remodelling of the Warsak Canal System in Peshawar and Nowshera district (revised) was approved at a cost of Rs11.137 billion, which would be equally shared by the federal and Khyber-Pakhtunkhwa’s governments.

Ecnec approved the Prime Minister’s Youth Training Scheme 2015-17 costing Rs26.6 billion.

Published in The Express Tribune, October 7th, 2017.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.

The post Long-awaited: ECNEC agrees to revive Karachi Circular Railway project appeared first on The Express Tribune.

Source: Tribune News | Long-awaited: ECNEC agrees to revive Karachi Circular Railway project

Leave a comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Search

© copyrights 2017

Back to Top